Erik Mohlin, Oxford University
We exploit a unique opportunity to study how a large population of players in the field learn to play a novel game which has a complicated and non-intuitive mixed strategy equilibrium. We argue that standard models of belief-based learning and reinforcement learning have difficulties in explaining the data, but that a simple model of global imitation of strategies that are similar to previous successful strategies can do so. We study the convergence properties of our proposed imitation learning model, by means of stochastic approximation, and corroborate our findings using laboratory data.
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The seminar is free of charge and takes place at the Institute on Holländargatan 13 in Stockholm.
No registration is required.